Money Monday: Your 10-Step Plan for Buying a Home

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  • Step One
  • Set Yourself Up for Success
  • Figure Out What You Can Afford
  • Make Wise Financial Choices
  • Get Pre-Approved for a Mortgage
  • Explore Homebuyer Programs
  • Find a Reputable Realtor
  • Review the Selection
  • Order a Home Inspection
  • See Things Through to the End
  • Take Your Seat at the Closing Table

Set Yourself Up for Success

Ask yourself if you’re really ready to take on the responsibility of owning a home where you’ll live for the next three to five years (or more). Are you ready to pay property taxes, insurance and ongoing maintenance in exchange for the opportunity to build equity in a property? If you are, check your credit (visit AnnualCreditReport.com to obtain a free copy of your credit report), assess your available financial resources (for down payment funds, for example), and take yourself out of the “renter’s mindset” for a few minutes.